News Formal

Stocks rallied after hot inflation data 11 months ago. Don't expect a repeat, analyst says.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

The S&P 500 rallied off its cyclical bottom 11 months ago, after consumer prices data showed hotter-than-expected inflation, but the move is unlikely to...

The S&P 500 began a rally off its cyclical bottom 11 months ago, after the consumer-price index showed hotter-than-expected inflation. A similar move following Wednesday’s data is unlikely, according to Jonathan Krinsky, chief market technician at BTIG.

In October 2022, the gauge of large-cap U.S. equities put in a cyclical bottom at 3,577, according to FactSet data. Since then, the S&P 500 has gained 25%. Still, the percentage of S&P 500 components above their 200-day moving average was only 48% as of Wednesday, well below the historical average, suggesting limited market breadth, according to Krinsky. Market breadth refers to measurements of how many stocks are participating in a move.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500’s tech stocks slump, with Apple event failing to provide boost to the sectorThe S&P 500’s information technology sector wasn’t getting any help from Apple Inc. on Tuesday afternoon, after the tech giant’s highly-anticipated marketing...
Source: MarketWatch - 🏆 3. / 97 Read more »

Stay upbeat on U.S. stocks, says SocGen, which just boosted its S&P 500 targetSociété Générale's top U.S. equity strategist has lifted his S&P 500 target for 2023, saying investors want to buy growth and industrials. But a 'shock' is...
Source: MarketWatch - 🏆 3. / 97 Read more »

These are the market's cheapest stocks with upside — including one expected to have a 90% comebackCNBC Pro screened for cheap stocks on the S&P 500 that analysts forecast having upside potential.
Source: CNBC - 🏆 12. / 72 Read more »

S&P 500: How to Protect Your Profits in a Sideways MarketStocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »